Bank of Baroda has entered into an alliance with Aerem Solutions (ASPL) and its subsidiary, Aerem Finance (AFPL) for the financing of Solar Rooftop projects for captive use by MSMEs. Under the agreement, Bank of Baroda will provide collateral-free loans at affordable rates to MSMEs for installation of captive solar rooftop projects.
This collaboration will encourage MSMEs to adopt solar energy, significantly reducing power bills and increasing profitability of the business as well as supporting the development and growth of the renewable energy market in India.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.